A new transport entity has been formed after merging three companies to support Egyptian products and promote foreign trade, in cooperation with the private sector.
The public business sector minister said that the agreement comes in light of the leading digitization experiment adopted by his ministry as well as its experience in dealing with the international companies in this regard.
Tawfik said huge investments were being pumped into public sector affiliated companies, including firms of textiles, medicine, trade, transport, tourism and hotels.
CAIRO, April 12 (MENA) - Minister of the Public Business Sector Hesham Tawfiq said on Sunday that a plan was in the pipeline in coordination with the agriculture and trade ministries to develop Egypt's cotton industry. The minister made the remarks at
A memo was signed between the two sides in this respect in August 2019.
Egyptian Minister of Public Business Sector Hesham Tawfik on Tuesday was granted an award by leading economics magazine Business Today, during the annual BT100 ceremony that honors top influential figures and companies positively impacting the Egyptian ec
He said that the developed gin in Fayyoum and other new gins would produce pure cotton with special standards to help improve the price of exported cotton.
According to a statement by the ministry, he noted that a maritime line between the Egyptian port of Ain Sokhna and the Kenyan port of Mombasa will be launched by mid-2020.
Egypt launched a shipping line from Ain Sokhna Port to Mombasa Port in Kenya, Public Enterprise Minister Hisham Tawfik said.
Minister of Public Business Sector Hesham Tawfik said that the companies are working in many fields.
The Egyptian Exchange played a role in attracting foreign investments to Egypt by 0.04 percent despite the slowdown in the global economy during 2018, Nasr said.
This is considered the first development of the machines, as most of them have been working since the 19th – early 20th century.
The strategic objectives of the government’s IPO program are to expand the ownership base, increase governance practices and private sector participation in management, and provide the necessary financing to restructure and develop companies.
The ministry asked the Japanese company to use Nasr auto-assembling factory and turn it into an export hub through exporting around 50,000 cars annually.
The strategy is meant also to promote the Egyptian exports especially vegetables and fruits, he noted.
Minister of Public Business Sector Hisham Tawfik reviewed with the board of El Nasr for Imports and Exports Company efforts and plans of the company to improve its performance after the losses it incurred over the past years.
The reports revealed that 26 companies constitute 90 percent of the total losses, Tawfiq said, adding that 25 companies will be developed while the National Cement Company will be shut down.
The ministry said recent statements by Public Enterprise Minister Hesham Tawfik where he was quoted as saying that the "steel industry is not strategic" were taken out of context.
Tawfik said that the Egyptian government is adopting a policy of providing lands for developers and investors for setting up industrial zones and residential areas.
“We will offer another block of companies over a period of between six and nine months after the end of the first phase of five company offerings,” Tawfik added.